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12476 Hopewell Road Alpharetta, GA 30009

3 Beds 2 Baths 2,154 sqft Built 1989

$499,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $232.08
  • 3 Days on Market
  • MLS # : 6808500
  • Updated Date : 11/14/2020 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,154 sqft
  • Baths : 2 full
Listing Agent's Description

Open airy Ranch walking distance to downtown Alpharetta sitting on over half acre-Your own Private Estate! Step inside and you're greeted by recently updated vinyl plank flooring and neutral decor-Oversized Great Room with massive stone Fireplace to warm you on chilly winter evenings-Great Room opens to large formal Dining Room that can double as home work space-Added sunroom off Great Room and Dining Room provides wall of windows to let in tons of natural light-Eat in Kitchen with new flooring is ready for your personal touches! Master Bedroom can easily accommodate

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Surrey Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k560k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Surrey Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9733324

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Alpharetta Elementary School Primary Regular 575 50 8
Hopewell Middle School Middle Regular 1,338 91 8
Cambridge High School High Regular 1,785 93 NA

Alpharetta Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 50
8
GreatSchools Rating

Hopewell Middle School

  • Education Level: Middle
  • # of students: 1,338
  • # of teachers: 91
8
GreatSchools Rating

Cambridge High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 93
NA
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,844
Property Tax -$395
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$127

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$499,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.18%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.74%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$21,005

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,300

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,391

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 12476 Hopewell Road Alpharetta, GA 3
    • 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
  • 415 Maisie Court Alpharetta, GA 1
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 1995
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 135 Manning Drive Alpharetta, GA 2
    • 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2000
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
  • 341 Pebble Trail Alpharetta, GA 4
    • 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 1993
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.17
    •  
  • 730 Brookstone Court Alpharetta, GA 5
    • 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 1997
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.15
    •  
PROPERTY LISTING DETAILS
Pam K Abernathy
1.404.863.7724
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6808500
Last Updated: 11/14/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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